Amazing Risk/Reward Harmonic on Ethereum H4 / 240 minutes

2 sie 2018

A triangle was broken recently. Now, following Carney´s principles we should be ready to go long already on this cryptocurrency hoping that BTCUSD continues its uptrend on the short term up to 9K or more. Fibo levels match accordingly.

Target 1 : $ 430 - $ 437
Target 2 : $ 455 (at the 61.8 % retracement level)
SL / Cancel: Price under $ 405 shall be followed closely, Stop Loss at $ 399 or $ 397

3 sie 2018

Uwaga

Stop Loss about to be hit as BTC keeps on plunging its way down. At the moment ETHUSD - 2.31 %

3 sie 2018

Transakcja zakończona: osiągnięto poziom stop

Probably stop-loss at $397 could have saved this trade. Next comments on this will be coming soon, following a backtesting plan to analyze the best statistical and probability ratios. Cheers everyone !!

3 sie 2018

Uwaga

It´s 5:00 pm here in Madrid, Spain, 9 hours after making this call. As I said last night, tightening too much SL´s can be very unprofitable, usually greedy trades as the ones like 1:3 risk/reward or more. Even more as a forex trader which is not used to so much volatility as in crypto, hoping this doesn´t sound as any kind of justification.
We said a $ 397.00 SL could have save this trade and at the moment that is what we can actually see.
Probably a little bit more patience would have make me take a better decision too wait for a 1.272 extension of leg BC at the D point completion, making it a perfect Butterfly Harmonic pattern and open the trade I´m into atm : tradingview.com/chart/VWhosKBy/